OVER 300 jobs at Mr Binman are “safe,” the Mayor of Limerick has said, following a meeting with the financially troubled waste and recycling company.
Mayor Jim Long, Fine Gael, said he met with senior management of the company on Friday last, and is satisfied that the company will be protected.
On Wednesday last, Billy O’Riordan of PricewaterhouseCoopers was appointed as interim examiner the waste disposal group.
Mr Binman will continue to trade normally during the examinership process.
In the statement, the company said that following a decision by Bank of Scotland (Ireland) to withdraw its support, the company’s directors sought the protection of examinership while management negotiated a restructuring of its debts and new equity investment for the companies.
Now, Mayor Long believes the company will seek other investors to protect its future as one of the largest refuse firms in the country.
“They are satisfied that the protective measures will save jobs and there will be no disruption to customers. There are still hurdles to overcome,” said the mayor.
Fianna Fail deputy Willie O’Dea said he plans to raise the issue in the Dail, and said if the company were to close it would be “horrendous” for the region.
Mr Binman employs 331 people directly and approximately 280 indirectly. The company has 57,000 domestic customers and 5,500 commercial customers, most of which are in Munster.
The company is registered in Kilmallock, but a creditor staged a protest at its depot in Tipperary last week, claiming he is owed €16,000 from the company. There will be a full hearing of the company’s application to the High Court before Ms Justice Mary Finlay Geoghegan this Tuesday.